4 - Marketing
Effective marketing is core to the success of all business organizations. Unit 4 of the IB Business Management syllabus examines a range of marketing tools, theories, and techniques.
Marketing is far more than just about advertising or promotion, or even the traditional 4 Ps of marketing: product, price, promotion and place. The 7Ps of the marketing mix feature in the syllabus for SL and HL students.
In line with the syllabus, students should also be able to discuss the Marketing topics through the key concepts of change, ethics, sustainability, and creativity.
Marketing and conceptual understandings (from the guide):
Social, cultural, and technological change can impact the language and medium of marketing
Creative ways of informing stakeholders can lead to positive business outcomes
Ethical marketing practices can enhance a business’ brand image
Sustainable marketing practices can be effective for business success
The recommended teaching hours from the IB for Unit 4 of the Business Management syllabus are as follows:
- SL = 30 hours
- HL = 35 hours
The IB Business Management syllabus content for Unit 4 is outlined below. There are six topics in Unit 4: Marketing.
Unit 4.1 - Introduction to marketing
Unit 4.1 - Introduction to marketing
This section of the syllabus covers the following assessment objectives:
Market share (AO2, AO4)
Market growth (AO2, AO4)
The importance of market share and market leadership (HL only) (AO3)
This section of the syllabus covers the following assessment objectives:
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Unit 4.3 - Sales forecasting (HL Only)
This section of the syllabus covers the following single assessment objective:
The benefits and limitations of sales forecasting (AO3) (HL only)
Unit 4.4 - Market research
This section of the syllabus covers the following assessment objective:
The following methods/techniques of primary market research (AO2): (i) Surveys, (ii) Interviews, (iii) Focus groups, and (iv) Observations
The following methods/techniques of secondary market research (AO2): (i) Market analyses, (ii) Academic journals, (iii) Government publications, (iv) Media articles, and (v) Online content
The difference between qualitative and quantitative research (AO2)
The following methods of sampling (AO2): (i) Quota, (ii) Random, and (iii) Convenience
Unit 4.5 - The seven Ps of the marketing mix
Unit 4.5 - The seven Ps of the marketing mix
This section of the IB Business Management syllabus consists of 7 separate parts, each covering an aspect of the marketing mix (product, price, promotion, place, people, processes, and physical environment). This section of the syllabus covers the following assessment objectives:
4.5.1 Product
- The relationship between the product life cycle, product portfolio and the marketing mix (AO2)
- Extension strategies (AO3)
- The relationship between the product life cycle, investment, profit and cash flow (AO2)
- The following aspects of branding (AO2): (i) Awareness, (ii) Development, (iii) Loyalty, and (iv) Value
- The importance of branding (AO2)
4.5.2 Price
(1) Cost-plus (mark-up) pricing
(2) Penetration pricing
(3) Loss leader
(4) Predatory pricing
(5) Premium pricing
(6) Dynamic pricing (HL only)
(7) Competitive pricing (HL only)
(8) Contribution pricing (HL only)
(9) Price elasticity of demand (HL only)
4.5.3 Promotion
(1) Above the line (ATL) promotion (AO2)
(2) Below the line (BTL) promotion (AO2)
(3) Through the line (TTL) promotion (AO2)
4.5.4 Place
4.5.5 People
4.5.6 Processes
4.5.7 Physical evidence
Appropriate marketing mixes
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Unit 4.6 - International marketing (HL only)
This section of the syllabus covers the following single assessment objective:
Selected Pages
4 - Marketing
4.4 Market research Free
Learning outcome“Research is formalized curiosity. It is poking and prying with a purpose.”- Zora Neale Hurston (1891-1960),...
4 - Marketing
4.1 Introduction to marketing Free
Learning outcomes“People rarely buy what they need. They buy what they want.”- Seth Godin (b.1960), American entrepreneur...
4 - Marketing
4.2 Marketing planning Free
Learning outcomesMarketing planning refers to the structured process of formulating marketing objectives and appropriate...
4 - Marketing
4.3 Sales forecasting (HL) Free
Learning outcomesSales forecasting is a quantitative technique used to predict a firm’s level of sales revenue over a...
4 - Marketing
4.5 The seven Ps of the marketing mix Free
Learning outcomesThis is the largest section of the IB Business Management syllabus, focusing on the seven Ps of the marketing...
4 - Marketing
Opportunities & threats posed by entry into international markets
The opportunities & threats posed by entering & operating internationally (AO3)International marketing refers to the marketing...